Indonesia stocks inch higher after MSCI extends review to November

Indonesian stocks rose 0.7% on Wednesday after MSCI delayed its review of the country's emerging markets status to November, citing progress in Jakarta's reform measures.

Indonesian ​stocks rose slightly ​on Wednesday ‌after index ​provider MSCI pushed its review on the ‌country's emerging markets status to November to assess the slate of reform measures rolled ‌out by Jakarta. Indonesia's benchmark index ‌gained 0.7% in early trading on Wednesday.

Indonesian assets have been hammered since January, when MSCI ⁠froze ​the ⁠country's stocks in its indexes and raised ⁠the prospect of a downgrade to frontier ​status. The index provider late on Tuesday ⁠called the measures from Indonesia a "step in the ⁠right ​direction", but warned it would consider options such as a ⁠consultation on a downgrade to frontier status if ⁠sufficient ⁠progress was not evident by its November review.